UK government dishes out tax cuts as the country braces for recession

UK Chancellor Kwasi Kwarteng outside 10 Downing Street. Britain will cap the cost of electricity and gas for businesses. Rob Pinney | Getty Images News | Getty Images LONDON — The new UK government announced a sweeping program of tax cuts and investment incentives Friday, as Prime Minister Liz Truss seeks to boost the country’s … Read more

The UK has lifted its fracking ban, digging up a long-running debate

The derrick is seen behind anti-fracking banners at Cuadrilla’s Lancashire fracking site. Christopher Furlong | Getty Images LONDON — The UK government lifted its ban on fracking Thursday, citing the need to increase domestic energy supply following the Russian invasion of Ukraine. In her first major address on Sept. 8, new Prime Minister Liz Truss … Read more

How Europe plans to cut gas usage

From cutting down on shower time, driving slower and fining shopkeepers for not closing their doors, Europeans are embarking on a target of reducing energy usage in time for winter, and some citizens have taken to social media to share their experiences. For example, German Christopher Hipp offered tips on Twitter on how to defrost … Read more

Europe races to prepare for energy crunch this winter

Spain may shut energy-intensive industries at peak times France prepares to send gas to Germany in October Germany to sign LNG contracts in UAE Berlin still working on Uniper bailout BERLIN/LISBON, Sept 19 (Reuters) – Germany was pressing on Monday to secure liquefied natural gas contracts with Gulf producers and other European states outlined measures … Read more

The EU seeks $140 billion to insulate consumers from the energy crisis

Russia has steadily cut gas supplies to Europe European governments fork out billions to help businesses EU’s von der Leyen says aid so far ‘will not be enough’ BRUSSELS/DUESSELDORF, Sept 14 (Reuters) – The European Union’s executive outlined plans on Wednesday to raise more than $140 billion from energy firms to help shield households and … Read more

US considers China sanctions to deter Taiwan action; Taiwan presses EU

The Flag-Lowering Ceremony takes place at Liberty Square on August 09, 2022 in Taipei, Taiwan. Taiwan proposed $19 billion in defense spending for next year on Thursday, a double-digit increase on 2022 that includes funds for new fighter jets, weeks after China staged large-scale war games around the island it views as its sovereign territory. … Read more

US considers China sanctions to deter Taiwan action; Taiwan presses EU

The Flag-Lowering Ceremony takes place at Liberty Square on August 09, 2022 in Taipei, Taiwan. Taiwan proposed $19 billion in defense spending for next year on Thursday, a double-digit increase on 2022 that includes funds for new fighter jets, weeks after China staged large-scale war games around the island it views as its sovereign territory. … Read more